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FTW - From The Wallet
Document last updated: March 21st, 2023.
"From The Wallet" or "FTW" is a Limit-Order trading platform that allows users to trade directly from their wallet to another user and vice versa. This platform is fully Decentralized as the user maintains possession of their Cryptocurrency or NFT throughout the process.
This is the apex of P2P (peer-to-peer) trading in the Cryptocurrency and NFT space, trading securely without giving control over your assets to another.
FTW trades will not cause a negative price impact from selling as it is P2P and doesn't touch the Liquidity on DEXs or CEXs.
FTW will offer the option of a per-transaction or subscription (multiple time-frames) fee(s). These fees will be less than traditional trades because they are a "transfer" on the blockchain rather than a buy or sell with multiple routes between the assets!
Compare this to 1inch limit orders where you pay 0.3% per trade.
Initially, FTW will support assets on Ethereum (ERC-20) and Binance Smart Chain (BEP-20).
The expansion of this trading platform will move to multiple blockchains that run on Ethereum Virtual Machine (EVM).
Buying & Selling of listed Cryptocurrencies.
Users can buy something with BNB or ETH but can not list their FTW link offering BNB or ETH for the other asset. This is because there's no approval for native tokens. This means that users have to Wrap BNB or ETH to ask for a buy with native tokens.
Buying & Selling of Non-Fungible Tokens (NFTs)
-Note: FTW will launch initially with the Cryptocurrency trading function, and a second contract for NFTs will be developed, tested, and audited before going live.
Note: All Cryptocurrencies & NFT collections listed for sale will be searchable, and there may be a manual verification process performed by the FEG team for drop-down menu & symbol integration.
A Voting/Request system will be built so that users may request new projects or NFT collections to be added to the trading list.
The contracts for which the FTW Limit-Order trading platform is being built are undergoing thorough testing and 3rd party audit before the platform's launch.
Membership fees will distribute rewards to:
- Staking Rewards
- Marketing
- Project Growth/Sustainability
The percentages have yet to be determined as the platform is still under development.
Memberships may be renewed every 30 days; this membership can allow users to create any FTW trade (Buy or Sell) for free during the paid month.
A user with no membership must pay a fixed fee for all buys/sells.
-Note: TBD amount
If the Token has RFI tokenomics, the percentage will be sent to users passively.
Regular taxes for buying/selling can not be used on FTW because no contract intermediary sets a recipient wallet address.
Last modified 1mo ago